Össur, Reykjavík, Iceland, has purchased 9,863,578 of its own shares (about 2.2 percent of outstanding shares) on NASDAQ Iceland; the total purchase price is about US $28.8 million. The share buyback transaction is initiated pursuant to the authorization granted to the board of directors by the company’s annual general meeting in March 2014, which authorizes the company to acquire treasury shares at a nominal value not exceeding 10 percent of the share capital. The purpose of the share buyback transaction is to adjust the capital structure in line with the company’s desired capital level of net interest bearing debt in accordance with the company’s dividend policy. Össur also said that at the 2015 annual general meeting it intends to propose a decrease in the share capital as a result of this transaction.
